1:2 bonus share & Rs 81,000 crore order book: Multibagger stock under Rs 100 in green after announcing stellar results, PAT jumps 53 per cent
The stock gave multibagger returns of over 100 per cent from its 52-week low is Rs 42.55 per share.
On Thursday, shares of NBCC (India) Ltd-backed by the President of India & LIC; gained 0.65 per cent to Rs 99.96 per share from its previous closing of Rs 89.38 with an intraday high of Rs 92.75 and an intraday low of Rs 89.75. The company has a market cap of Rs 24,289 crore and has been maintaining a healthy dividend payout of 35 per cent.
NBCC (India) Limited, a prominent government-owned construction company under India's Ministry of Housing and Urban Affairs, offers a comprehensive suite of services across three key segments. Their project management consultancy (PMC) arm tackles civil construction projects for various sectors including residential, commercial, healthcare, and educational institutions. Additionally, they specialize in engineering, procurement, and construction (EPC) for complex structures like high-rise chimneys and cooling towers. Finally, NBCC (India) Limited is a major player in real estate development, building residential townships, apartments, commercial office spaces, and shopping malls.
According to the Quarterly Results, the net sales increased by 19.50 per cent to Rs 2,458.73 crore and the net profit increased by 53 per cent to Rs 124.88 crore in Q2FY25 over Q2FY24. In its half-yearly results, the net sales increased by 16 per cent to Rs 4,602.89 crore and the net profit increased by 46 per cent to Rs 232.09 crore in H1FY25 over H1FY24.
Earlier, the company has secured contracts for several significant projects. These include a Rs 50 crore interior fit-out project for GAIL (India) Limited's office space in New Delhi, a Rs 136 crore demolition and reconstruction project for New India Assurance buildings in Mumbai, and a Rs 262.74 crore construction project for a government complex in Kanpur. The total value of these projects amounts to Rs 448.74 crore, showcasing NBCC's continued growth and involvement in diverse construction and engineering endeavours.
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Furthermore, the shares of the company ex-traded bonus shares in the ratio 1:2 i.e., 1 new fully paid-up equity share of Re 1 each for every 2 existing fully paid-up equity shares of Re 1 each to the eligible members of the company as on record date. The ex-date for bonus shares was Monday, October 07, 2024.
Order Book: The company's order book as of June 30, 2024, crosses Rs 81,000 crore. The current year target is around Rs 10,000 crore turnover at the standalone and Rs 13,000 crore at the consolidated level
As of October 2024, the President of India owns a 61.75 per cent stake and the Life Insurance Corporation of India (LIC) owns a 5.11 per cent stake in the company. The stock gave multibagger returns of over 100 per cent from its 52-week low is Rs 42.55 per share. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.